No deposit bingo? No competition more like! That is if 888 Holdings has its way… the online gaming giant has started to make its feelings clear that 2010 is most certainly a year for mergers and acquisitions. So expect a lot of re-homing of some of the smaller bingo brands, as the online bingo big boys start waving their wallets.
Commenting via a Bloomberg report, the CEO of 888 Holdings, Gigi Levy, hinted that the group is seeking further acquisition opportunities throughout 2010. It is a year that many (including us) have predicted will be the year online bingo starts getting serious, with big monopolies forming in order to ward off the recession and capitalise on market share and the ever increasing revenue of online bingo.
Speaking in the report, Levy, who as CEO is the main man in terms of 888 Holdings growing empire including 888Ladies Bingo and Wink Bingo, also admitted that the group is in the “advanced stages” of a small acquisition, and a “very early” position for a larger one. We love a bit of mystery, and are looking forward to seeing just who is going to be joining the ranks of 888Ladies Bingo and Wink Bingo in the 888 stable!
It is not known whether the targets will be bingo focused, as according to reports, Wink Bingo revenue is already hitting the bottom line when it comes to 888 Holdings profit and loss. It was an acquisition that has certainly bolstered the company in terms of the year ahead – with Wink Bingo and 888Ladies Bingo, the company owns two of online bingo’s brightest stars and is most certainly a message to PartyGaming – who pipped 888 Holdings to the post in the highly publicised takeover of Foxy Bingo owner Cashcade – that 888 are not the type of company to roll over and let someone else steal their thunder!
And sure enough, it seems like the increased profits at 888 Holdings are certainly benefiting some of its sites, with 888Ladies recently holding their biggest jackpot game to date, with a massive £50k being paid out to one lucky roomie. In terms of online bingo jackpots, they don’t come much bigger than that! But 888 Holdings also seem intent on developing some home grown talent as well as poaching the rising online bingo stars. Take 888Bingo, which launched recently as an overtly masculine antidote to the super girly (and super great) 888Ladies Bingo. Alongside 888casino, 888poker and 888sport, if Gigi Levy gets his way, it’ll only be a matter of time before 888 Holdings actually boasts 888 gaming sites…
